The Following Article is for AbacusLaw by CARET version 23.35 and higher
On the Company Preferences window's General tab, the Allocate all Fees to the Responsible Attorney for Non-Hourly Matters field has been replaced with the Fee Allocation for Non-Hourly Matters field. The field was replaced to offer customers more choices for fee allocation.
Options for the field include:
- All to Responsible Attorney: All fees are allocated to the responsible attorney.
- All to Timekeepers who worked: All fees are distributed in a pro-rated manner to the timekeepers who worked on the matter for the billing period, irrespective of whether the total value of time tickets is less or more than the fixed fee. If no one has worked on the matter, then all fees are allocated to the responsible attorney.
- Timekeepers & Responsible Attorney: If the total value of time tickets for the billing period is more than the fixed fee, then fees are allocated in the pro-rated manner amongst the timekeepers who worked on the matter. If the total value of time tickets for the billing period is less than the fixed fee, then fees are allocated to timekeepers to the extent of their time ticket value and the rest to the responsible attorney.
Examples
For these examples, assume that a matter has a monthly/flat fixed fee of $1,000.
Scenario 1: No timekeeper worked for the billing period.
- If All to Responsible Attorneyis selected, the responsible attorney will have 0 hours billed and $1,000 fees billed.
- If All to Timekeepers who worked is selected, the responsible attorney will have 0 hours billed and $1,000 fees billed.
- If Timekeepers & Responsible Attorney is selected, the responsible attorney will have 0 hours billed and $1,000 fees billed.
Scenario 2: Timekeeper A worked for 2 billable hours worth $400, and Timekeeper B worked for 3 billable hours worth $300.
- If All to Responsible Attorneyis selected, the responsible attorney will have 0 hours billed and $1,000 fees billed.
- If All to Timekeepers who worked is selected:
- Timekeeper A will have 2 hours billed and $571.43 fees billed.
- Timekeeper B will have 3 hours billed and $428.57 fees billed.
- If Timekeepers & Responsible Attorney is selected:
- Timekeeper A will have 2 hours billed and $400 fees billed.
- Timekeeper B will have 3 hours billed and $300 fees billed.
- The responsible attorney will have 0 hours billed and $300 fees billed.
Scenario 3: Timekeeper A worked for 2 billable hours worth $400; Timekeeper B worked for 3 billable hours worth $300; and the responsible attorney worked for 0.5 hours worth $200.
- If All to Responsible Attorneyis selected, the responsible attorney will have 0 hours billed and $1,000 fees billed.
- If All to Timekeepers who worked is selected:
- Timekeeper A will have 2 hours billed and $444.44 fees billed.
- Timekeeper B will have 3 hours billed and $333.33 fees billed.
- The responsible attorney will have 0.5 hours billed and $222.23 fees billed.
- If Timekeepers & Responsible Attorney is selected:
- Timekeeper A will have 2 hours billed and $400 fees billed.
- Timekeeper B will have 3 hours billed and $300 fees billed.
- The responsible attorney will have 0 hours billed and $300 fees billed.
Scenario 4: Timekeeper A worked for 4 billable hours worth $800; Timekeeper B worked for 3 billable hours worth $300; and the responsible attorney worked for 0.5 hours worth $200.
- If All to Responsible Attorneyis selected, the responsible attorney will have 0 hours billed and $1,000 fees billed.
- If All to Timekeepers who worked is selected:
- Timekeeper A will have 4 hours billed and $615.38 fees billed.
- Timekeeper B will have 3 hours billed and $230.77 fees billed.
- The responsible attorney will have 0.5 hours billed and $153.85 fees billed.
- If Timekeepers & Responsible Attorney is selected:
- Timekeeper A will have 4 hours billed and $615.38 fees billed.
- Timekeeper B will have 3 hours billed and $230.77 fees billed.
- The responsible attorney will have 0.5 hours billed and $153.85 fees billed.
Comments
0 comments
Article is closed for comments.